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Based on a global study of 1,000 millennials from across the United States, the report provides practical advice to help employers rethink their people practices for attracting, retaining and developing millennial workers.
Sixty-six percent expect to work past age 65. Thirty-two percent expect to work over the age of 70, and 12 percent say they will likely work until the day they die.
• American millennials are working longer and harder than previous generations. Seventy-six percent of American millennials foresee taking career breaks longer than four weeks. Though women are likely to plan breaks to care for others — children, older relatives, etc. — men and women prioritize leisure-related breaks for themselves equally.
• Globally, millennials are happy to disrupt and be disrupted by new ways of working. While almost three-quarters of working millennials are in full-time jobs today, over half say they're open to new ways of working in the future – freelance, gig work or portfolio careers with multiple jobs. Thirty-four percent globally are considering self-employment.
• Ninety-five percent of American millennials are willing to spend their own time and/or money on further training. The report highlights the positive correlation between people's career success—being more educated, better prepared for employment and higher paid—and their "learnability," or ability and desire to learn.
"Employers need to listen up and get creative. They simply cannot afford not to appeal to millennials," said Mara Swan, Executive Vice President, Global Strategy and Talent, ManpowerGroup. "Millennials want progression, but that doesn't have to mean promotion. We need new ways to motivate and engage employees, like facilitating on-the-job learning and helping people move around the organization to gain experience more easily. And what works for millennials works for the rest of the workforce too."
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